Moneygram Money Transfer Review

Matt Di Vincere (Chief Editor)
Last Edited Dec 18, 2023

Should I use MoneyGram for money transfers?


  • Global reach
  • Enables Cash pickup
  • No need for a bank account
  • Remitting Cash Since the 1940’s


  • Negative Client Reviews on Some Platforms
  • Relatively High Fees Based on World Bank statistics
  • Exchange rates are not the best available
  • Not a good option for bigger transfers

Services Offered by MoneyGram

Send Money  + 4

Official Website:

MoneyGram Review: Executive Summary

Moneygram is a money transfer service that allows users to send and receive money worldwide. The company has been in operation since 1940, and its services are available in more than 200 countries. Moneygram offers a variety of money transfer options, including online transfers, mobile transfers, and in-person transfers. While MoneyGram is a legit house-hold name in international payments, the company has come under fire in recent years for its high fees, poor customer service, and questionable business practices in some instances.
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Updated on Dec 18, 2023
Aggregated User Votes

Not Top 10 Ranked

🏆 0 Industry Awards

Where is MoneyGram Available?

Our Top Rated MoneyGram Alternatives

The following are online friendlier, cheaper, money transfers than MoneyGram. These MoneyGram alternatives, while we believe are better, don’t have the same capabilities when it comes to things like cash to cash transfers, dealing with very exotic currencies etc. – for corridors like transferring money to EU, these MoneyGram competitors are definitely a viable alternatives, but in some corridors, these companies won’t be available and MoneyGram or Western Union may be the only choice.

EU UK USA Australia Wise (Previously TransferWise): Best to Remit Money Abroad for Cheap
17 Avenue Marnix, 1000 Brussels, Belgium
86.8% Editorial rating
124,000 Client Reviews
Minimum transfer:
No Minimum - Send From: UK, Europe, US, Canada, Singapore, Japan, Indonesia, Malaysia, Australia, New Zealand
Why Them?
  • Largest Money Transfer Provider of its Kind
  • Fees for Most Routes under £1
  • Fully-Online Journey with Transparent Pricing
+Read more
Wise / TransferWise
Wise (Previously TransferWise): Best to Remit Money Abroad for Cheap
Editorial rating
Australia UK EU USA New Zealand OFX: Remittances Kings of Australia
Level 19, 60 Margaret St, Sydney, NSW 2000, Australia
90.4% Editorial rating
4,500 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent, Send From: Australia, New Zealand, UK, Europe, US, Canada
Why Them?
  • Excellent Reach - Transfer to Any Country with no Fixed Fees
  • Intuitive Online System, Easy to Understand and Use
  • 24/7 Support Wherever You Are on The Globe - Be Treated with Respect
+Read more
OFX: Remittances Kings of Australia
Editorial rating
UK EU Currencies Direct: Best for Large or Repeat Transfers
1 Canada Square, Canary Wharf, London E14 5AA, UK
97.8% Editorial rating
5,000 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent - Send From: UK, Europe, US, Canada, South Africa, India
Why Them?
  • #1 Rating on MTC for the Past 2 Years - Tailored to Larger Transfers with Excellent Phone Service
  • No Fees on any Transfers, Ever
  • Very Friendly Online Platform
+Read more
Currencies Direct Money Transfer
Currencies Direct: Best for Large or Repeat Transfers
Editorial rating
EU UK USA Australia One of the Hottest Money Transfer Startups
Colm House, 91 Pembroke Rd, Ballsbridge, Dublin, Ireland
86.8% Editorial rating
5,000 Client Reviews
Minimum transfer:
No Minimum - Send From: UK, Europe, Australia, Hong Kong, Singapore
Why Them?
  • No Fees on GBP payments, EUR Charged at €3
  • Very Low Margins, Down To 0.33%
  • Great Reputation And Client Reactions
+Read more
One of the Hottest Money Transfer Startups
Editorial rating
UK Netherlands Azimo: Fees from £0.99, 4.6/5 on TrustPilot
Milton Keynes Buiness Centre Foxhunter Drive, Suite 140 Milton Keynes, MK14 6GD United Kingdom
77.0% Editorial rating
51,000 Client Reviews
Minimum transfer:
Why Them?
  • Very well known
  • Good online system
  • Tight margins
+Read more
Azimo: Fees from £0.99, 4.6/5 on TrustPilot
Editorial rating
UK Germnay Turkey TransferGo: Rated 4.8 / 5 from over 22,000 reviews
241 Southwark Bridge Rd, SE1 6FP, London, United Kingdom
72.0% Editorial rating
22,000 Client Reviews
Minimum transfer:
No Minimum, Remit from UK and Europe to over 65 destinations.
Why Them?
  • ltilingual Support Team
  • Excellent Client Feedback
  • Over 2.5 million Customers to Date
+Read more
TransferGo: Rated 4.8 / 5 from over 22,000 reviews
Editorial rating

Is Moneygram Safe?

Company size:  

Moneygram is a money transfer giant and has played a substantial role in the history of money transfers.

The US-based business was founded in 1940 to deliver money orders. As its brand name expanded in the 80’s and 90’s, the problem of remittances became a real concern for the global economy, and there were very few competitors in the field (the biggest competitor that comes to mind is Western Union). Back in those pre-internet days, you had to have a local presence to handle anyone’s money, and Moneygram has managed to pull off that task successfully. Today, Moneygram has one of the most extensive global reach in the industry (together with WU), boasting 347,000 agents across the globe.

The company has suffered some downturns during its long history. The 2008 subprime crisis had hit it with a full impact crash to take its stock to oblivion, and a $100m fine for fraud a few years later didn’t help.


During 2017, Ant Financial  made an offer to buy Moneygram for a sum of $1.2bn. Ant Financial is a Chinese company owned by the Alibaba group (formerly named AliPay), and being that, considering the US-Chinese tensions in 2017, the deal was blocked by the U.S government. Ant Financial ended up buying indirect competitor WorldFirst.

In 2018, Moneygram announced it will be integrating Ripple into its payment system, which may be the way forward for this company. Ripple is the most payment-oriented cryptocurrency.

Regulated By: 

Almost any financial regulator across the globe, including the American SEC and the British FCA.


Moneygram is one of the biggest, strongest, and most resilient companies in the money transfer space, for good or worse. It has a fascinating history filled with glorious achievements alongside crashes and falls.

MoneyGram Customer Reviews


There are thousands of Moneygram reviews across the web, and there are dozens of comments left by our visitors.

We focused on the largest and most recognisable user review platforms, and discovered client reviews as follows: 1,269 on Consumer Affairs and 37,693 total on TrustPilot.

The ratings were as follows:

  1. Consumer Affairs – 1.7 Stars out of 5 Stars available.
  2. TrustPilot – 4.5 Stars out of 5 Stars available. It looks like MoneyGram has run an initiative to boost its score, as the positive reviews have been invited whereas the negative ones haven’t.

In total, it’s strange to see such different experiences across two different review platforms. We can see from a notification next to the review on TrustPilot that the users who have left positive ratings have been invited by Moneygram to leave a review. So it’s possible that Moneygram has only notified loyal customers to leave a review. There’s nothing specifically wrong with that of course, these are still real customers who have had a real experience with Moneygram but it’s possible it does not incorporate the feedback of a wider sample of Moneygram users.


The vast majority of positive reviews are on TrustPilot. They indicated the following positives with the company:

  • Good service
  • Inexpensive
  • Easy to transact

12% of the TrustPilot ratings are negative, but virtually all of the reviews on Consumer Affairs and Yelp are complaints. The negative feedback covered many aspects, including:

  • Quality of service
  • Cost of transfer
  • Responsiveness of company / agent
  • Safety and Security
  • .. and many more…


Based on the research we have conducted, there is a real mixed bag of reviews telling us very different things about the company. The situation is similar to Western Union, the only company which is really comparable to Moneygram but we have to say Moneygram feedback just about edges them for positive customer experiences.

Some of the angst directed at Moneygram may be unjust. Perpetrators are using Moneygram’s service for money transfer scams but there is little the company can do in that regard. Additionally, some clients may have unrealistic expectations.

Moneygram’s TrustPilot ratings have really improved over the years and it appears for many the service is working just fine, providing an efficient and reliable service. That being said, we shouldn’t look past the many negative reviews either. Even though the TrustPilot score has drastically improved, there is still a much greater proportion of complaints than providers like CurrencyFair and Wise.

MoneyGram Exchange Rates & Fees


We can say Moneygram shows good ethics by presenting a cost calculator on their website. It makes figuring out the exact costs easier than with other companies. It seems to be a more prominent feature with companies who have a remittance focus as the only other companies on the market showing this type of feature at the moment are Wise (Transferwise), Currencyfair, Azimo, Western Union and World Remit (from the ones we have reviewed to this point).

Fees & Exchange rates:

The team at have tested some of the most common currency exchanges with Moneygram, and also used the World Bank to compare smaller sized transfers/remittances and figured out the rates offered are sub-par. In some corridors for small transfers they are more competitive, and what we’re seeing is less than Moneygram charged a few years ago, suggesting they have became more aware of increasing competition, but they are still expensive.

If you look at the ever-popular corridor of Pound to Dollar, you could see that on August 6 where the rate was 1.3875, Moneygram’s offered rate was 1.3517, suggesting a 2.5% markup on a very popular currency and a rate that is no better than a bank.

If you check for remittance countries like Romania, the World Bank claims Moneygram is as much as twice as more expensive than Wise (Transferwise) but surprisingly the cheapest way to pay both 120GBP and 300GBP to RON (August 2021 tested) was, Moneygram’s direct competitor.


Users may send up to $2,500 daily, using Moneygram’s online service. $9,999 is the limit for agent office transfers. $899 is the daily limit for Moneygram mobile app transfers.

These are the limitations for private clients, but we presume there are no limitations for its corporate clients.


If your aim is to save money, you should shop around and check alternatives, if they are available in your area. Moneygram has a lot more global reach than some of the relatively smaller competitors, so there might not be any cheaper alternatives; but based on the sampling we have conducted, there would be cheaper alternatives when moving money from the UK, USA, the EU, Australia and New Zealand for most destinations.

MoneyGram Global Reach & Service


  • Dedicated Dealer: Moneygram does not offer dedicated dealers for private clients. The company’s business is remittances rather than small businesses or wealthy expatriates.
  • Offices: There are hundreds of thousands of agents spread across the globe.
  • Ways to approach: Online, via email, telephone or get to a branch/agent.
  • Translations: Yes, is translated to a multitude of languages.
  • Accepts clients: Worldwide.
  • Currencies Handled: 58 online, possibly more available on specific branches or with specific agents.
  • Client reviews: The reviews we have collected represent a vast spectrum of very disgruntled clients and some who are receiving a perfectly good service.


Moneygram is one of the most international companies out there. They have built a network of agents over 8 decades and have far more banking relations and understanding of the money transfer business than any of the newcomers.

The firm’s website is translated to multiple languages, and clients are accepted worldwide in the truest sense of the word, as many of their competitors claim to be global but have nowhere near this sort of reach.

As many of our readers are moving substantial amounts of money each month it should be noted that Moneygram is a remittances service. Its greatest advantages like accepting cash transfers and moving them, in cash, to locations like Africa, South Asia and Eastern Europe, are not applicable for readers who seek to move a hefty salary abroad or make a large purchase.

Additional Functionalities

For businesses: 

Moneygram has a Corporate website which enables small, medium and large businesses to conduct their foreign exchange affairs there. It is stated on the website that corporate clients can have access to spot contracts, forward contracts, limit orders and other hedging tools.


Moneygram has mobile apps for iPhone and Android devices. These applications provide all the functions of the website to mobile users. These apps are rated 4.3 / 5 on the Google store and an impressive 4.8  / 5 on the Apple Store. A really well reviewed app that has been downloaded millions of times.

Review Summary
50 of 100 1 review
  • Credibility Score - 80%
  • Client Feedback - 60%
  • Fees, Exchange Rates - 30%
  • Global Reach, Availability, Service - 40%
  • Added Values - 40%

Bottom Line

Moneygram has serious advantages in the form of very wide global reach and 80 years of reputation. The website is seamless to use, the rates and fees are clear and transparent and you can transfer money by debit card, bank transfer or in cash (through a branch).

On the downside, Moneygram’s online fees are worse than competitors, with a whooping 2.5% markup on a £1,000 GBP-USD transfer, and you can send only up to $10,000 per transaction. As a whole, the company is not suitable for customers who want to larger amounts of money to popular destinations, because Moneygram’s rates are nowhere near competitive for that.











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